Bitcoin Weekly Recap 12-25-2015
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French Nationalist Party Moves for Greater Bitcoin Controls
Three French representatives at the European Parliament are seeking approval that would allow member states greater authority to exercise regulatory power over Bitcoin. The petitioners are all members of the French nationalist party Front National (FN), and are asking for the European Commission to grant European Union members the authority to choose how each nation will deal with Bitcoin and other digital currencies. The requested powers would be broad enough to even allow those member states the option of banning Bitcoin altogether.
The FN representatives have justified their motion by asserting that these powers are needed to counter the Bitcoin system’s high risk, and alleged similarities to Ponzi schemes. They also referenced the European Court of Justice’s recent ruling that exempted digital currencies from VAT tax consideration, as well as Russia’s ongoing campaign against cryptocurrency.
Art Gallery Event to Focus Attention on Bitcoin
On January 7th, 2016, a New York art gallery event at Rabbit Hole Studio is slated to shine a spotlight on Bitcoin as it focuses on the fragility of the current monetary system and various solutions. The event is part of the ongoing Partial Mystery series and is being sponsored by Bitcoin advisory company Gocheto Financials. The event will include a variety of artistic pieces, presented in the usual Partial Mystery style that attempts to blend the art show and social event formats.
The Money event is being conducted by Creative Girls of NYC, and lasts for one night only. Creative Girls has issued an open call for artwork, with at least 13 artists currently confirmed as participating in the show. Buyers will be able to purchase the displayed artwork using Bitcoin, which will offer many of the participating artists their first exposure to using digital currency in a real-world setting.
Bitcoin Foundations Shakeup
After suspending board elections and leaving some observers wondering whether the organization had outlived its usefulness, the Bitcoin Foundation this week announced the appointment of three new board members. At the same time, a new draft mission statement has been released. The Foundation members have also voted to continue the organization, and have agreed to eliminate the membership fee and shared revenue requirements for international affiliates.
The new draft mission statement has been made available for comment and review, and includes the advancement of Bitcoin and its technology through emphasis on the promotion of core development, greater acceptances, and expanded education. The Foundation is also stressing that it sees its mission as working to reduce the harmful impact of regulatory actions, while promoting technological solutions that can obviate the need for new regulations.
Sputnik Announces Bitcoin Salary Payments for Employees
Kyrgyzstan’s Sputnik news organization has revealed its intent to experiment with using Bitcoin to pay its employee salaries, rather than the nation’s only recognized legal tender, the Som. While any company or organization’s use of Bitcoin for wage payments is still novel enough to be considered newsworthy, the Sputnik decision is even more adventurous than it appears at first glance. After all, the nation’s Central Bank currently prohibits the use of digital currency. Under the existing Central Bank interpretation of Kyrgyz Republic law, the use of Bitcoins in this way is a violation of that legal prohibition.
UTXO Co-Founder Castenada: Bitcoin and Texas Well-Aligned
In an interview with Coin Telegraph, UTXO co-founder Sam Castenada, a lifelong citizen of Texas, made no secret of his belief that the Lone Star State is ideally situated to be a leader in Bitcoin’s future. The state has long been recognized as a national leader in promoting economic freedom, with its emphasis on controlling tax rates and spending, while minimizing regulatory burdens. Castenada has faith that the state government’s friendly approach to digital currencies like Bitcoin will help it to become one of the early leaders in Bitcoin acceptance as well.
Castenada cited innovative actions such as Governor Abbot’s support for the creation of the Texas Bullion Depository as just one example of the Texas commitment to adapting new technologies and systems to meet citizen needs. The state’s banking commission took up the issue of digital currency early on, setting a tone that has enabled Texas to become a real leader where acceptance of cryptocurrency is concerned. According to Castenada, there are cultural similarities between Bitcoin and Texas that make the state a fertile ground for cryptocurrency companies.